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BAR vs. AAAU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

BAR vs. AAAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Gold Trust (BAR) and Goldman Sachs Physical Gold ETF (AAAU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BAR achieves a 0.02% return, which is significantly lower than AAAU's 0.05% return.


BAR

1D
-3.65%
1M
-7.97%
YTD
0.02%
6M
2.66%
1Y
28.36%
3Y*
29.83%
5Y*
17.73%
10Y*

AAAU

1D
-3.64%
1M
-8.02%
YTD
0.05%
6M
2.64%
1Y
28.42%
3Y*
29.80%
5Y*
17.72%
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

BAR vs. AAAU - Yearly Performance Comparison


2026 (YTD)20252024202320222021202020192018
BAR
GraniteShares Gold Trust
0.02%64.12%26.97%12.96%-0.55%-3.92%25.02%18.16%9.09%
AAAU
Goldman Sachs Physical Gold ETF
0.05%64.06%26.91%12.96%-0.50%-4.01%25.02%18.17%9.20%

Correlation

The correlation between BAR and AAAU is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (All Time)
Calculated using the full available price history since Aug 16, 2018

0.99

The correlation between BAR and AAAU has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

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Return for Risk

BAR vs. AAAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAR
BAR Risk / Return Rank: 3030
Overall Rank
BAR Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
BAR Sortino Ratio Rank: 2727
Sortino Ratio Rank
BAR Omega Ratio Rank: 3333
Omega Ratio Rank
BAR Calmar Ratio Rank: 3030
Calmar Ratio Rank
BAR Martin Ratio Rank: 2727
Martin Ratio Rank

AAAU
AAAU Risk / Return Rank: 3030
Overall Rank
AAAU Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
AAAU Sortino Ratio Rank: 2828
Sortino Ratio Rank
AAAU Omega Ratio Rank: 3333
Omega Ratio Rank
AAAU Calmar Ratio Rank: 3030
Calmar Ratio Rank
AAAU Martin Ratio Rank: 2727
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAR vs. AAAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and Goldman Sachs Physical Gold ETF (AAAU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


BARAAAUDifference
Sharpe ratioReturn per unit of total volatility

-0.01

Sortino ratioReturn per unit of downside risk

-0.01

Omega ratioGain probability vs. loss probability

1.22

1.22

0.00

Calmar ratioReturn relative to maximum drawdown

1.42

1.43

-0.01

Martin ratioReturn relative to average drawdown

3.60

3.62

-0.02

BAR vs. AAAU - Sharpe Ratio Comparison

The current BAR Sharpe Ratio is 1.07, which is comparable to the AAAU Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of BAR and AAAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Sharpe Ratios by Period


BARAAAUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.07

1.07

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

0.99

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.87

1.06

-0.18

Drawdowns

BAR vs. AAAU - Drawdown Comparison

The maximum BAR drawdown since its inception was -21.53%, roughly equal to the maximum AAAU drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for BAR and AAAU.


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Drawdown Indicators


BARAAAUDifference

Max Drawdown

Largest peak-to-trough decline

-21.53%

-21.63%

+0.10%

Max Drawdown (1Y)

Largest decline over 1 year

-20.05%

-20.00%

-0.05%

Max Drawdown (3Y)

Largest decline over 3 years

-20.05%

-20.00%

-0.05%

Max Drawdown (5Y)

Largest decline over 5 years

-20.91%

-20.94%

+0.03%

Current Drawdown

Current decline from peak

-20.05%

-20.00%

-0.05%

Average Drawdown

Average peak-to-trough decline

-6.46%

-6.19%

-0.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.89%

7.86%

+0.03%

Volatility

BAR vs. AAAU - Volatility Comparison

GraniteShares Gold Trust (BAR) and Goldman Sachs Physical Gold ETF (AAAU) have volatilities of 5.66% and 5.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


BARAAAUDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.66%

5.66%

0.00%

Volatility (6M)

Calculated over the trailing 6-month period

23.34%

23.25%

+0.09%

Volatility (1Y)

Calculated over the trailing 1-year period

26.69%

26.59%

+0.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.97%

17.90%

+0.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.42%

17.04%

-0.62%

BAR vs. AAAU - Expense Ratio Comparison

BAR has a 0.17% expense ratio, which is lower than AAAU's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


Dividends

BAR vs. AAAU - Dividend Comparison

Neither BAR nor AAAU has paid dividends to shareholders.


Tickers have no history of dividend payments

Frequently Asked Questions


With a correlation of 1.00, BAR and AAAU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

AAAU has higher volatility (5.66%) compared to BAR (5.66%). In terms of maximum drawdown, BAR dropped -21.53% vs AAAU's -21.63%.

On 5-year performance, BAR leads with 17.73% vs 17.72% for AAAU. On fees, BAR is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, BAR has performed better with a 17.73% return vs 17.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BAR is cheaper with a 0.17% expense ratio, compared with 0.18% for AAAU.

BAR and AAAU have nearly identical dividend yields, around 0.00%.

BAR tracks LBMA Gold Price PM ($/ozt), while AAAU tracks LBMA Gold PM Price. They also come from different issuers: GraniteShares and Goldman Sachs. Their fees differ too: 0.17% for BAR and 0.18% for AAAU.

AAAU currently has the higher Sharpe Ratio (1.07 vs 1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for BAR and AAAU

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